Cyprus announces 3-year investment strategy

The Cyprus Investment Promotion Agency (CIPA) is to promote Cyprus as an international investment centre over the next three years.

The agency’s plan, which will run until 2020 and includes the launch of the “Invest Cyprus” logo, is the centre piece of a wider effort to increase FDI and capitalize on the economy’s recovery.

“There has been an impressive recovery of the Cypriot economy which created the need to redefine priorities and redesign the strategy to optimise the opportunities that emergy,” said CIPA’s general director, Natasa Pyllidou at a press conference last month.

The launch of the Invest Cyprus initiative coincides with a desire to improve Cyprus’ image abroad and make the jurisdiction more visible and interesting to investors.

Michalis Michael, CIPA’s new board chairman, said the agency will play a vital role in capitalising on new growth dynamics and Cyrpus’ advantageous location. “Promoting the competitive advantages of Cyprus as an investment destination and contributing to the effort for structural reforms that will improve the business environment are the primary objectives of the agency,” he said.

“CIPA’s new strategy and targeted actions to harness the opportunities that emerge are steps in the right direction and serve the wider effort to strengthen the country’s growth prospects.”

Christopher Copper-Ind
Christopher Copper-Ind is Editor of International Investment.

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